U.Today - As 2025's start gets underway, Michael Saylor, executive chairman and co-founder of MicroStrategy, has revealed the key thing he's thinking of.
In a tweet, Saylor wrote, "Thinking Bitcoin ." This is hardly surprising given that Saylor is an ardent Bitcoin advocate, and under his leadership, MicroStrategy has become one of Bitcoin's major corporate holders. The corporation has no intention of backing down, with plans to raise $2 billion in capital through public offerings of perpetual preferred stock in the first quarter of 2025.
According to a press release issued Jan. 3, MicroStrategy wants to raise $2 billion through a perpetual preferred stock offering to buy more Bitcoin, expanding on the company's "21/21" plan.
The offering is separate from MicroStrategy's current plan to raise $21 billion in equity and $21 billion in fixed-income instruments, which it has mainly implemented in recent months to fund its Bitcoin purchasing binge via senior convertible bonds and debt.
As of Dec. 30, MicroStrategy owned 446,400 Bitcoin, valued at $43.9 billion. It purchased 257,250 Bitcoin in 2024 alone — the company’s largest Bitcoin buying year yet.
Saylor's post also coincides with Bitcoin price consolidating around $98,000, anticipating the next major move.
Bitcoin price action
Cryptocurrencies soared at the start of the year as market optimism returned. Bitcoin began increasing Dec. 31 from a low of $91,887 to a high of $98,969 on Jan. 3, where it remained for a few days.At the time of writing, Bitcoin was trading at about $98,000, down slightly to $97,960. Bitcoin is up 4% weekly.
Both moving averages have flattened out, and the relative strength index (RSI) is just over the midway, pointing to a possible consolidation in the short term. Bitcoin could fluctuate between $100,000 and $90,000 for some time.
If investors push the price beyond $100,000, Bitcoin is expected to retest its all-time high of $108,353. Alternatively, a break and close below $90,000 would pave the way for a drop to the support at $85,000.
This article was originally published on U.Today